Gaja Alternative Asset Management's initial public offering (IPO) is set to open for subscription on August 19, 2026. According to the Red Herring Prospectus (RHP), the ₹550.00 crore book-built issue comprises a fresh issue of up to ₹450.00 crore and an offer for sale (OFS) of up to ₹100.00 crore

The IPO will remain open until August 21, 2026, while the anchor investor portion will open for subscription on August 18, 2026. The basis of allotment is expected to be finalised on August 24, 2026, and the shares are tentatively scheduled to be listed on the BSE and NSE on August 26, 2026.

Gaja Alternative Asset Management IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹550.00 crore
Fresh Issue: Up to ₹450.00 crore
Offer for Sale (OFS): Up to ₹100.00 crore
Face Value: ₹5 per equity share
Price Band: ₹152 to ₹160 per share
Lot Size: 93 shares
Minimum Investment Amount (Retail Investor): ₹14,880 (93 shares at the upper price)
Listing: BSE, NSE
Book Running Lead Managers: JM Financial Limited, IIFL Capital Services Limited
Registrar: MUFG Intime India Private Limited

Gaja Alternative Asset Management IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	19 August 2026
Subscription Closing Date	21 August 2026
Basis of Allotment Date	24 August 2026
Refund Initiation Date	25 August 2026
Credit of Shares	25 August 2026
Listing on BSE and NSE	262 August 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Gaja Alternative Asset Management IPO Category-wise Investment Limits

The application size for each category is as follows -

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not more than 50% of the Net Issue
Non-Institutional Investors (NIIs)	Not less than 15% of the Net Issue
Retail Individual Investors (RII)	Not less than 35% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹160 per share, is as follows -

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	93	₹14,880
Retail (Maximum)	13	1,209	₹1,93,440
sNII (Minimum)	14	1,302	₹2,08,320
bNII (Minimum)	68	6,324	₹10,11,840

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Investing towards sponsor commitments to certain existing and new funds and for repayment of the Bridge Loan Amount in the manner set forth below:

investing towards our balance Sponsor Commitment to the following constituent funds of Fund IV and for repayment of the Bridge Loan Amount:

Gaja Capital India Fund 2020 LLP
Gaja Capital India Fund 2021 (formerly known as Gaja Capital India Fund 2020)
Bridge Loan Amount

investing towards our Sponsor Commitment to the proposed Fund V
investing towards our Sponsor Commitment to the Secondaries Fund

General corporate purposes.

About Gaja Alternative Asset Management Limited

Gaja Alternative Asset Management Limited is an independent, India-focused alternative asset management company (AMC) with over 20 years of experience. It manages Category I and Category II AIFs focused on India and also advises offshore funds that invest capital in Indian companies. The company is predominantly owned by its leadership team and is not backed by a financial institution, corporate group, or global firm.

Its investments span sectors such as engineering, energy and infrastructure (EEE), financial services, consumer, and digital technology. The company’s primary sources of income are management fees, carried interest, and income from sponsor commitments.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	135.53	121.99	95.64
EBITDA	72.05	60.80	49.25
Profit After Tax (PAT)	81.96	61.95	44.74